Liechtenstein And Czech Republic To Negotiate DTA

Liechtenstein and the Czech Republic have recently agreed to commence negotiations on a double taxation agreement (DTA) between the two countries, it has emerged.

Both countries are eager to negotiate a DTA containing the extended administrative assistance clause, in accordance with Article 26 of the OECD Model Convention.

The announcement was made during the signing of a joint declaration to initiate diplomatic relations, and a memorandum on future cooperation.

"Today, we are laying the cornerstone for strengthening relations between our two countries," declared Liechtenstein’s Foreign Minister, Aurelia Frick. "We are looking forward to the beginning of a new dialogue in the spirit of partnership."

"As a next concrete step, we want to initiate bilateral negotiations on an OECD-compliant double taxation agreement. This will allow us to lay a solid foundation for the development of economic relations and for increased cooperation in tax matters," the Foreign Minister added.